1. Markets snap record closing streak; Sensex sustains 22500
Market Snapshot | 03-04-2014 04:30 PM
Following a marginally higher start to mark record highs at 22620.65 and 6776.75, Indian indices consolidated
subsequently shrugging off the firm global cues. Markets magnified losses further amidst fall in HSBC Services PMI for
March and weakness in Rupee against Dollar. Benchmarks recovered some of the lost ground in late hours to settle
marginally in red zone. Sensex managed to end above 22500 and Nifty ended at 6736. On BSE sectorial front, Bankex
topped the laggards.
Among global peers, US indices gained with S&P 500 closing at a record high on better-than-expected economic
reports. However, Asian indices traded mixed despite the announcement of stimulus package by Chinese Government.
European indices too traded weak.
Back home, on currency front, Rupee turned weak against Dollar due to demand of Dollar and negative trades in
local equities. In futures trades, INR hit an intra-day high of 60.17/USD and an intra-day low of 60.60/USD. In spot
trades, INR hit an intra-day high of 59.83/USD and an intra-day low of 60.28/USD. As per RBI reference rate, INR
stood at 60.12/USD. (Read More)
On macro-economic front, India’s HSBC Services Purchasing Manager’s Index (PMI) dipped to 3 months low level of
47.5 in March as against 48.8 in February. India’s Service PMI recorded ninth straight below 50 mark reading, a level
that separates growth from contraction. The reason behind the contraction was the fall in new business at a faster
pace.
In a major development, following Election Commission's approval to issue banking licenses, RBI issued permits to 2
out of 27 aspirants after a long wait of over a decade. IDFC and Kolkata-based microfinance firm Bandhan Financial
Services were the lucky ones whereas other business houses were currently ignored. (What’s Hot)
On stock specific front, Torrent Pharmaceuticals ended 1.6% up on BSE as Private equity firm ChrysCapital
invested around $40 million in the company with a view to expand its portfolio of healthcare companies. (Read More)
Bharti Airtel inked a new agreement with IBM for managing company’s infrastructure and application services in India
over the next five years. The stock ended 1.35% down on BSE. (Read More)
Ashok Leyland bagged a contract from Government of Zimbabwe to supply 670 vehicles worth approximately $50
million in the financial year 2014-15. The stock ended marginally down on BSE. (Read More)
Hinduja Foundries jumped 10% on BSE after the Reserve Bank of India (RBI) allowed company to raise its foreign
investment limit up to 60% of paid-up capital. (Read More)
T he market breadth on the BSE closed in negative. Advancing and declining stocks were 1308 and 1529
respectively, while 138 scrips remained unmoved.
The S&P BSE Sensex ended at 22509.07, down 42.42 points or 0.19%. The 30 share index touched a high and a
low of 22620.65 and 22369.28 respectively. 13 stocks advanced against 17 declining ones on the benchmark index.
The CNX Nifty lost 16.45 points or 0.24% to settle at 6736.10. The index touched high and low of 6776.75 and
6696.90 respectively. 20 stocks advanced against 30 declining ones on the index.
S&P BSE Sensex CNX Nifty
The S&P BSE Mid-cap index moved down to 7170.75 and lost 0.39% while S&P BSE Small-cap index hammered
down by 0.18% to 7207.45.
The broader S&P BSE 500 index decreased to 8348.03 (down 0.29%) and CNX 500 index declined to 5254.35 (down
0.34%).
The volatility as denoted by INDIA VIX gained 4.24% at 22.11 from its previous close of 21.21 on Wednesday.
Sectors in action
On the BSE Sectorial front, Healthcare (up 0.95%), FMCG (up 0.44%) and Metals (up 0.35%) were the top gainers.
Banks (down 1.09%), Oil & Gas (down 0.87%) and Capital Goods (down 0.83%) were the top losers.

2. The Angels and the Devils
Hindustan Unilever Ltd (up 1.89%), Cipla Ltd (up 1.65%), Dr. Reddys Laboratories Ltd (up 1.50%), Hindalco Industries
Ltd (up 0.70%) and Housing Development Finance Corporation Ltd (up 0.70%) were the top gainers on the Sensex.
Bharat Heavy Electricals Ltd (down 3.20%), GAIL (India) Ltd (down 2.23%), Coal India Ltd (down 2.21%), State Bank
of India (down 1.97%) and Axis Bank (down 1.96%) were the top losers on the Sensex.
Benchmark Drivers
Hindustan Unilever Ltd (14.11 points), State Bank of India (-13.62 points), ITC Ltd (13.53 points), Axis Bank (-10.97
points) and Housing Development Finance Corporation Ltd (10.83 points) were the major Sensex drivers today.
On the other end Hindustan Unilever Ltd (3.80 points), State Bank of India (-3.57 points), ICICI Bank (-3.22 points),
Axis Bank (-2.96 points) and Reliance Industries Ltd (-2.96 points) were the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 6737 for next session. The next support is at 6696 and on upside it has a resistance at
6776 levels.
CNX NiftyCNX Nifty
Eff. DateEff. Date S 3S 3 S 2S 2 S 1S 1 PIVOTPIVOT R 1R 1 R 2R 2 R 3R 3 Actual CloseActual Close
04-Apr-2014 6617 6657 6696 6737 6776 6816 6856 -
03-Apr-2014 6690 6707 6730 6747 6770 6786 6809 6736.10
02-Apr-2014 6630 6653 6687 6710 6744 6766 6801 6752.55
S&P BSE Sensex has a pivot at 22500 with first level of support and resistance at 22379 and 22630 respectively.
S&P BSE SensexS&P BSE Sensex
Eff. DateEff. Date S 3S 3 S 2S 2 S 1S 1 PIVOTPIVOT R 1R 1 R 2R 2 R 3R 3 Actual CloseActual Close
04-Apr-2014 22127 22248 22379 22500 22630 22751 22881 -
03-Apr-2014 22367 22420 22486 22539 22605 22658 22723 22509.07
02-Apr-2014 22143 22219 22333 22409 22523 22599 22713 22551.49
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